The retailer’s parent firm Associated British Foods said the chief executive admitted to an ‘error of judgment.’
The boss of Primark has resigned after an allegation over his behaviour towards a woman.
Primark’s parent firm, Associated British Foods (ABF), said Paul Marchant has stepped down as chief executive of the high street fashion brand with immediate effect following an investigation.
It said the incident related to “his behaviour towards [a woman] in a social environment.”
The company said Marchant cooperated with the investigation, “acknowledged his error of judgment and accepts that his actions fell below the standards expected by ABF.”
“He has made an apology to the individual concerned, the ABF board and also to his Primark colleagues and others connected to the business,” the firm added.
ABF stressed that it will continue to offer support to the individual who brought the incident to its attention.
Related Stories
Marchant had led the Dublin-based fast fashion chain, which runs more than 450 shops, since 2009, when he took over as chief executive from founder Arthur Ryan.
He was previously chief operating officer at rival New Look and had held roles at Debenhams, Topman, and River Island.
George Weston, chief executive of ABF, said: “I am immensely disappointed.
“At ABF, we believe that high standards of integrity are essential.
“Acting responsibly is the only way to build and manage a business over the long-term.
“Colleagues and others must be treated with respect and dignity.
“Our culture has to be, and is, bigger than any one individual.”
ABF’s Finance Director Eoin Tonge will now act as interim boss of Primark, working with the brand’s senior executives and strategic advisory board, ABF said.
Joana Edwards, ABF group financial controller, will replace Tonge on an interim basis.
Primark, which makes up almost half of ABF’s sales, brought in more than £9.4 billion in revenues in the 2024 financial year.
Shares in ABF, which also owns grocery brands including Ryvita and Twinings, fell by 4 percent in early trading on Monday as a result.
